ArmInfo. Lydian Armenia reports that it has received temporary access to the Amulsar gold mine for preparatory work and preservation of technological and mobile equipment for the winter period. This is the press service of the company.
According to the information, the work is being carried out in order to minimize the possible damage to the equipment during the winter period and to ensure the effectiveness of the inspection (survey) of construction, mining works and operation.
''In view of the illegal blockade of roads leading to the territory of the Amulsar deposit, since the end of June this year the company has been deprived of opportunity to work. Nevertheless, we continue to work with the government to find solutions to the current situation, and we also evaluate the company's financial, strategic and legal alternatives. During this period, the preparation of equipment for the winter period is extremely important. This is a positive step, as we are working to ensure continuous access to the territory within which the project is being carried out, " Joao Carrelo, President and CEO of Lydian.
To note, the construction activities within the Amulsar project have been suspended. The reason for this was the protest action of environmental activists who claimed that the use of the deposit would damage the environment of Jermuk. Over the next two to three months, international authoritative experts will publish the results of the environmental impact assessment of the project. In case of positive expertise, the project will continue.
To recall, Lydian Armenia is a subsidiary of the British Lydian International, whose shareholders are large international institutional investors from the United States, Britain, a number of European countries and EBRD. The Amulsar project is the largest industrial project in Armenia for the development of the Amulsar gold deposit at a total cost of $ 370 million. In August 2016, the project of the construction and development of the field was launched. Preliminary work has been carried out since 2006. The life of the Amulsar deposit will be 10 years and 4 months, an annual average of 200,000 ounces of gold (about 10 million tons of ore) is planned. The company's shares are quoted on the Toronto Stock Exchange. Amulsar deposit is the second largest in Armenia.